Quick Summary
In a significant move to enhance professionalism and ensure quality compliance, the Institute of Company Secretaries of India (ICSI) has introduced a cap on the number of Annual Returns (E-form MGT-7) that can be signed by Company Secretaries in Practice. This decision was made during the ICSI's 312th Council meeting held on October 8-9, 2024. From the financial year commencing April 1, 2025, a Company Secretary in Practice will be allowed to sign the annual return for no more than 75 compani
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FAQ :
From April 1, 2025, a Company Secretary in Practice can sign E-Form MGT-7 for a maximum of 75 companies. A Peer Reviewed Company Secretary in Practice can sign for up to 125 companies.
These new guidelines will be effective from the financial year commencing April 1, 2025.
The limits have been introduced to enhance professionalism, ensure quality compliance, and uphold service delivery standards and ethical conduct within the profession.
Yes, there are additional changes in the UDIN Portal to ensure accurate and transparent signing processes. Violations of the ICSI UDIN Guidelines, 2019, will have serious consequences.
E-Form MGT-7 is the Annual Return form that Company Secretaries sign.
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